Chicago Spot: $2.11 UP 0.0616
Fair price adjustment: 0.7948
Fair Price: 2.7662
Average selling price 2.7150
Margin over cost + profit: -0.0512
We are in dangerous territory. The commodities market is up yet again, this time on a weak dollar. Fair price is at break even, which can mean a spike is close at hand. But, we have already had a spike this week, so another one is not as likely to come. But we just came off a weekend where the margin was thin, and Speedway might not want to repeat that again. But the last time commodities spiked up like this (in May) Speedway lagged behind so much that Indiana gas stations lost money on the sale of fuel. But… well, you get the idea.
It would be prudent to watch the prices as they may climb going into the weekend. Indiana could see $2.75-2.80, Michigan and NW Indiana could be 5-10 cents higher. Or, we could see prices stagnate or drop very slowly… only the people in Ohio know what will happen.